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Bob invests $5000 on a yearly basis at an effective rate of interest of 10%. He...

Bob invests $5000 on a yearly basis at an effective rate of interest of 10%. He makes the first deposit on June 1, 1980, and the final deposit on June 1, 2000. How much is the investment worth on June 1, 2020? Please use the effective rate formula and geometric sequence formula because this is for my math assignment, not a finance assignment. Thanks!
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Answer #1

2964 2965 yearly saving 5,000.00 2966 period of saving till 2000 L 21.00 =2000-1980+1 2967 interst rate 0.10 2968 2969 future

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